NIRSAL debunks allegations, reiterates commitment to agribusinesses

“The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) Plc is fully focused on delivering on its mandate of inspiring investor confidence in the viability of the Nigerian agricultural sector as a vehicle for overall national economic growth”. This point was made by the company’s Chief Executive Officer, Mr. Abdulhameed Aliyu, in a chat with AgroNigeria during which he debunked the recent spate of virtual media reports alleging financial and other improprieties in the company’s affairs.

According to the MD, the publications are wholly spurious and clear examples of how “ill-motivated lies can be peddled with ease on the internet”. In one of the reports, the journalists who could not be traced to any entity alleged that the NIRSAL boss’ son was arrested in Dubai with cash amounting to $5 million USD. The Dubai authorities were also alleged to have impounded a Lamborghini car from him. However, as Aliyu pointed out, “my son is here in Nigeria”.

It will be recalled that NIRSAL has, over the past few months, been the target of a series of virtual media publications, alleging mismanagement of funds and claiming that its Finance Director was summoned by the police for questioning.

According to some of the publications, Mr. Aliyu recently queried and suspended members of NIRSAL’s Account and Audit Department as a way of intimidating them.

The story, which was shared by a social media user on Twitter got an enquiry from Mrs. Abike Dabiri, the Presidential Assistant on Diaspora Affairs, who sought to know the ‘Federal Agency’ being alluded to in the speculative report.

Responding to the above state of affairs, the NIRSAL boss described it as ‘fake news’ and called on all well-meaning members of the public to disregard same, pointing out that the company, as an entity established solely for de-risking Nigerian agribusinesses is committed to its core mandate of providing third party guarantee on transactions consummated between Participating Financial Institutions (PFIs) and their customers. “So our role is that of a catalyst for growth in the agricultural sector of the Nigerian economy and we are doing quite well in this regard”, the MD pointed out.

He therefore urged NIRSAL and other government agencies servicing the agricultural community to reject and disregard attention seeking exercises and remain focused on moving the sector forward.

“They should continue to do their best to bring the dreams of farmers to reality”, he added.


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